Invest Europe, formerly the European Private Equity and Venture Capital Association, has published its 2015 Professional Standards Handbook, a comprehensive and up-to-date set of standards and guidelines for the private equity industry.

The Handbook reflects the heightened standards of transparency and
accountability being pursued by investors in Europe’s growing private
equity industry, which represents €545 billion of assets under
management. It also takes into account the new regulations in Europe,
including the Alternative Investment Fund Managers Directive (AIFMD),
which came into force since the last detailed update of the Handbook in
2013.

As part of the Handbook revision, Invest Europe has published
substantially updated guidelines for reporting by private equity firms
to their investors, which emphasise the importance of clear and detailed
disclosure of fees. As well as increasing transparency, the guidelines
encourage additional reporting to address areas of non-financial
disclosure – including environmental, social and corporate governance
(ESG) – and enhanced clarity on reporting metrics. The guidelines also
reflect advances in accounting standards since the last update.

The updated Handbook was created by Invest Europe members, which
include private equity firms and their institutional investors, as well
as industry advisors, working in collaboration for over a year.
Beginning and ending with member consultations reviewed by Invest
Europe’s Professional Standards Committee, its guidance demonstrates
consensus across the industry about best practice in today’s market.